Stamford, Conn. — Chief financial officers (CFOs) of life insurance companies continue to recognize enterprise risk management (ERM) as a critical management issue, as demonstrated both through the prominence they give ERM within the organization and the resources they devote to building ERM capabilities, according to a recent survey on “Embedding Enterprise Risk Management,” the latest in a series of Towers Perrin surveys aimed at life insurance CFOs. Towers Perrin is a Stamford, Conn.-based global professional services firm.
Thirty-eight CFOs participated in the Web-based survey, which also queried them for their prognosis on 2008 first quarter results. Respondents to the survey, conducted in February and March 2008 by the Tillinghast insurance consulting business, primarily included CFOs from large and midsize North American life insurance companies; nearly half had assets of $5 billion or more, while 13% were multinationals.
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